Saturday, October 10, 2009

Loan Application

I sent our loan application to Ulrika at Nordea. It was a bit of a struggle to get through all of the Swedish legalese, but Google translate came in handy.

I also added a cover letter to fill in any gaps in the application form, as being a utlänningar adds complications to my request. We may be able to meet in person when we're in Stockholm the Monday after next, which I'm sure would smooth things.

I've thought about how much cash I need. Taking into account everything I foresee over the next year- the roof, the water cabinet under the house, winter's electricity, taxes, a few items from IKEA, the deck between houses next spring- 60,000 kronor should do the trick.

However, I get a much better interest rate of 1.59% if I were to borrow 100,000 kronor, which I think I'll do. That's really cheap money!

With Grant's university fees coming up next year, conserving my pounds and dollars is a good idea. Plus, we plan to spend a lot of time on Aspö over the coming years, so establishing credit at a local bank should be useful for the long-term.